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Opel Aims to Finalize Union Pact in Four Months
General Motors Co.'s Adam Opel unit and German labor union IG Metall have set a November deadline for reaching a definitive agreement on the company's restructuring, according to news reports.
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General Motors Co.'s Adam Opel unit and German labor union IG Metall have set a November deadline for reaching a definitive agreement on the company's restructuring, according to news reports.
Senior IG Metall official Oliver Burkhard tells Reuters the union is "absolutely determined" to create a roadmap for Opel through at least 2016. Burkhard says IG Metall will continue to urge a solution to the company's excess capacity that does not involve closing Opel's assembly plant in Bochum, Germany.
Opel announced on Wednesday that it intends to shutter the facility after 2016 to reduce excess capacity. The company wants workers to agree to postpone an annual wage hike. In exchange, Opel says it would agree to no-layoff promise through 2016.
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